Promissory Note

Pronunciation: /prəˈmɪsəri noʊt/

Definitions of promissory note

noun a written promise to pay a specified sum of money to a specified person at a specified time

Example Sentences

A1 I signed a promissory note to repay the loan.

A2 The promissory note clearly stated the terms of the agreement.

B1 She used a promissory note to secure the financing for her business.

B2 The promissory note was legally binding and enforceable in court.

C1 The promissory note included clauses for default and late payment penalties.

C2 The lender demanded payment in full as per the terms of the promissory note.

Examples of promissory note in a Sentence

formal The borrower signed a promissory note outlining the terms of the loan.

informal I had to sign a promissory note before getting the money from the bank.

slang I'll pay you back, just write up a promissory note for me.

figurative Her commitment to the project was like a promissory note, guaranteeing her dedication.

Grammatical Forms of promissory note

• plural: promissory notes
• comparative: more promissory
• superlative: most promissory
• present tense: promise note
• future tense: will promise note
• perfect tense: have promised note
• continuous tense: is promising note
• singular: promissory note
• positive degree: promissory note
• infinitive: to promise note
• gerund: promising note
• participle: promised note

Origin and Evolution of promissory note

First Known Use: 1601 year

Language of Origin: Latin

Story behind the word: The term 'promissory note' originated from the Latin phrase 'nota promissoria', which means a written promise.

Evolution of the word: Over time, the term 'promissory note' has become widely used in financial transactions to signify a written promise to pay a specific amount of money at a specified time in the future.